How many billions did FBR collect in taxes over two months?
Federal Board of Revenue (FBR) has collected gross revenues of Rs1,588 billion in over two months. According to the FBR, the board collected Rs1,588 billion in total revenue for July and August of the current fiscal year, surpassing the target of Rs1,554 billion. In terms of income tax, the FBR
Federal cabinet rejects new duty on solar panels
WEB DESK: On Tuesday, the federal cabinet decided not to impose new duties on solar panels, aiming to ensure that renewable solar energy remains accessible to all citizens. Prime Minister Shehbaz Sharif, who chaired the meeting, highlighted that the government’s top priorities are economic security for the common man and
New taxes on salaried employees to accelerate ‘brain drain’ in Pakistan
WEB DESK: Pakistan Business Council warns of accelerated brain drain due to proposed budgetary measures. The country’s leading corporate advocacy group, the PBC has issued a stern warning regarding the potential impact of proposed budgetary measures on the salaried class, suggesting these could significantly “accelerate brain drain” in Pakistan. In
Federal budget likely to increase solar panel costs
WEB DESK: The Federal Board of Revenue (FBR) has proposed imposing new taxes of more than 1.5 trillion rupees for the next fiscal year to the Prime Minister. Hum New reported that sales tax rate increases on income food items and proposals for sales tax on solar panels are also
Energy Minister: No policy shift amid net metering dispute
WEB DESK: Energy Minister Ovais Leghari clarified that there has been no indication from the government about discontinuing net metering. Addressing concerns raised during the Senate session regarding taxes on solar energy consumers, he emphasised that unfounded rumors are circulating regarding net metering. Furthermore, the Director-General of the Meteorological Department
Ahsan Iqbal: 2018 ‘Tabdali’ as devastating as eastern Pakistan tragedy
LAHORE: Federal Minister for Planning Ahsan Iqbal described the 2018 transformation as a catastrophe for eastern Pakistan. Impact of 2018 Changes Speaking to the media in Lahore, Ahsan Iqbal stated that the changes in 2018 were a conspiracy. He added that 240 million people still suffer the consequences. Stock Exchange
Bank borrowings hit Rs6.2 tr in just 10 months
WEB DESK: Pakistan’s government surpassed its treasury bills auction target, raising Rs640 billion on Wednesday, while simultaneously reducing the cut-off yields for various tenors by up to 49 basis points. Despite a target of Rs450 billion, the overwhelming response saw bids totaling over Rs1.8 trillion, indicating investors’ preference for risk-free
Electricity tariff expected to rise by Rs7 per unit in July
Pakistan has notified the International Monetary Fund (IMF) of a potential increase in the average electricity tariff by Rs. 5 to Rs. 7 per unit in July, owing to annual adjustments. Despite multiple price hikes, the country is expected to miss its circular debt reduction target. During ongoing discussions about
